The new entity will produce up to four films a year under the TriStar Pictures brand and will develop TV programming for Sony Pictures Television.

This move will revive the TriStar label, which has been mostly dormant for years.

TriStar Pictures, originally launched in 1984, had a mixed cinema record. Box office hits included the original "Total Recall," "Basic Instinct" and "Jerry Maguire," and its critical hits included "The Natural," "Steel Magnolias" and "Glory."

The company was known as a filmmaker-friendly studio, and was the home for Woody Allen during his “Husbands and Wives” and “Manhattan Murder Mystery” period.

Rothman was forced out as chairman and CEO of News Corp.'s Fox Filmed Entertainment after 18 years at the company, where he oversaw all its filmmaking operations.

During Rothman's years at the studio, Fox released the two biggest films in box-office history, "Avatar" and "Titanic," both directed by James Cameron. Fox Searchlight also released Oscar-winning pictures "Little Miss Sunshine" and "Slumdog Millionaire."